Global padel racquet market forecast to reach $265.68 million by 2030

A new report projects annual growth of 12.65% over the next six years, as established players like Head and Wilson compete with newer entrants such as Nox and Bullpadel.

Author

Jonathan Dyson
November 22, 2024

The global padel racquet market, which was valued at $115.40 million in 2023, is forecast to grow to $265.68 million over the next six years, according to a new report.

The study, from the Indian firm Maximize Market Research, predicts a compound annual growth rate (CAGR) of 12.65% from 2024 to 2030.

The report says the rising interest in the sport, combined with the growing player base and infrastructure development in several countries, is driving the demand for padel racquets worldwide.

It also notes that the market is witnessing rapid innovation as competition among brands intensifies, with established players like Head and Wilson now competing with newer entrants such as Nox and Bullpadel.

The padel racquet market is witnessing rapid innovation amid the rising popularity of the sport.
Image credit: Adobe Stock.

“This competition has spurred the introduction of advanced materials, including graphene and carbon fibre, to create lightweight, durable rackets tailored to player needs,” the report states. “Furthermore, the trend of offering specialised rackets for varying skill levels and playing styles is expanding consumer choice, contributing to market growth.”

It adds: “The growing adoption of padel in untapped regions, particularly in North America and parts of Asia, offers significant growth potential for the industry.

“Partnerships between sports brands and local clubs to promote padel, coupled with the rising trend of eco-friendly and customisable sports equipment, are creating new avenues for market expansion.

“The increasing number of professional padel tournaments is also expected to elevate the sport's global profile, driving demand for premium rackets.”

The report lists the 15 largest manufacturers of padel racquets globally as: Adidas, Siux Padel, Enebe, Head, Bullpadel, StarVie, Dunlop Sports, Shooter, Vibora-A, Babolat, Wilson, Varlion, DropShot, Nox, and Royal Padel.